Senate bill aims for higher SEC enforcement penalties — CNNMoney

The bill would allow the SEC to impose a maximum $1 million penalty on individuals per violation for the most serious offenses and a maximum $10 million per violation on financial firms. Those levels would be an increase from the current $181,071 for individuals and $905,353 for firms. The measure also would give the SEC latitude to triple the cap for repeat offenders.

Currently, the SEC can levy a penalty equal to the gross amount of ill-gotten gains if an enforcement case goes to federal court. The legislation would permit the SEC to pursue the larger fines through its administrative process.

via Senate bill aims for higher SEC enforcement penalties — CNNMoney